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Blockchain & Cryptocurrency

Facebook is Developing a Cryptocurrency for WhatsApp Transfers

The Infinite Brief
Facebook is working on making a cryptocurrency that will let users transfer money on its WhatsApp messaging app, focusing first on the remittances market in India.

The company is developing a stablecoin — a type of digital currency pegged to the U.S. dollar — to minimize volatility.

Facebook has long been expected to make a move in financial services, after hiring former PayPal president David Marcus to run its Messenger app in 2014.

Curated from Bloomberg

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